HC Real Estate Capital Arranges $5.5 Million Financing for Multi-Family Community In Largo, FL

Golf Terrace Apartments, Largo, FL

Largo, FL -- Kurt Hoffmann and Chris Caveglia of HC Real Estate Capital have arranged $5,500,000 in financing for Golf Terrace Apartments located at 2045 East Bay Drive Largo, FL.  HC Real Estate Capital, worked with the buyer to obtain a 7-year fixed-rate loan.  Financing was arranged through a Commercial Bank.

Golf Terrace Apartments, built in 1972, is a 245-unit garden-style community situated on 9.45 Acres.  The community is comprised of 27 residential buildings, clubhouse, management office and two pools.  The apartments units are made up of 96- 1BR/1BA and 149- 2BR/BA. 

HC Real Estate Capital, LLC is a privately owned mortgage-banking firm founded by Kurt Hoffmann and Chris Caveglia. 

 Based in Delray Beach, Florida, HC Real Estate Capital arranges permanent and bridge commercial and multifamily real estate loans.  The company has a broad capital provider base that includes insurance companies, CMBS lenders, pension fund advisors, and commercial banks.

For a complete copy of the company’s news release, please contact:

Chris Caveglia

HC Real Estate Capital, LLC

660 Linton Blvd. Ste 200 EX5

Delray Beach, FL 33444

Direct: 561-266-3273

Mobile: 561-376-3176

ccaveglia@hcrecapital.com

www.HCREcapital.com

HFF announces senior managing director Bill Stadler’s relocation to its Orange County, CA office

Bill Stadler

IRVINE, CA – HFF announced today that senior managing director Bill Stadler has completed his transition to its Orange County office from its Dallas location.  Mr. Stadler will concentrate on developing and growing HFF’s West Coast hotel and resort investment sales platform.  Mr. Stadler joined the firm’s Dallas office in July 2011. 

Mr. Stadler is a 32-year veteran of the hospitality industry with in-depth experience in all facets of hotel operations, ownership, franchising and development with such highly respected companies including FelCor Lodging Trust, Marriott Hotels & Resorts, Embassy Suites and Woolley-Sweeney International. 

During the course of his career, he has been involved in more than $6 billion in lodging transactions.  Mr. Stadler holds a bachelor’s degree from Denison University and an MPS from Cornell University’s School of Hotel Administration.  He is a lifetime member of the Cornell Hotel Society and is an active member of the International Society of Hospitality Consultants.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Associate Director

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

krmurphy@hfflp.com

HFF Austin hires Jeremy Womack as director in its debt placement group

Jeremy Womack

 AUSTIN, TX – HFF announced today that Jeremy Womack has joined the firm as a director in its Austin office to focus on debt placement and equity transactions.

Mr. Womack has nine years of experience in commercial real estate finance and most recently served as an associate with Trinity Real Estate Finance.  He founded the Austin office of Trinity in 2006, after working in its San Antonio branch since 2004 as a senior financial analyst.

 Prior to that, Mr. Womack worked for Ernst & Young.  He holds a bachelor’s degree from Rutgers University and is on the Management Committee for the Austin Chapter of ULI (Urban Land Institute).

Douglas Opalka

“While HFF has had a transaction presence in the Austin market dating back to 1982, the addition of Jeremy to our team reinforces our mission to grow our debt placement and investment sales teams with the right mix of talent whether it be organically or by external recruiting,” said Doug Opalka, senior managing director and co-head of HFF’s Austin office.

 “Jeremy has an incredible work ethic, uncompromising character, and is wired perfectly to fit into our culture of team work and collaboration.  I am thrilled he brought his talents to our team and I know he is excited to deliver the resources of our platform to his clients.  HFF Austin has grown from one employee when it opened in January 2011to a current headcount of 13 employees and is well-positioned to serve our clients across central Texas and beyond.”

Contact:

Kristen M. Murphy

Associate Director

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

krmurphy@hfflp.com

In Uncertain Economy, Single-Tenant, Net-Lease Sites Offer Investors Welcome Security, Says Expert Panel

  

Michael Bull

 ATLANTA, GA (March 4, 2013) – With investors seeking predictable income and higher returns than today’s low-paying bonds, the demand for single-tenant, net-lease properties continues to grow.

 That was one of the observations shared by a panel of experts on the most recent episode of the “Commercial Real Estate Show” radio program, hosted by Michael Bull of Bull Realty. Bull and his guests discussed sales volumes, investor preferences and cap rates.

 The freestanding properties typically feature credit-grade tenants, often on long-term leases, who cover the buildings’ operating and maintenance costs.

Nancy Miller

The number of sales transactions in the Southeast involving single-tenant, net-lease sites increased about 30 percent in 2012 when compared with 2011, said Nancy Miller, a Bull Realty vice president who oversees the firm’s National Net Lease Investment Group.

 “From 2012 to 2013, we anticipate that leveling out a little bit because supply is going to be shorter,” Miller added. “But we are going to look at at least a 15 to 20 percent increase this year over last year’s transactions.”

 Investors in particular have a hearty appetite for properties occupied by dollar stores, fast-food restaurants and auto-part stores, all of which continue to benefit from a still-sluggish economy, the last because people are opting to keep their older cars longer instead of buying new ones, the guests noted.

Karen Hutton

Typical cap rates for single-tenant, net-lease sites occupied by banks are around 6 percent, while the rates for fast-food and automotive sites are around 7 percent and 7.3 percent, respectively, according to Miller.

 The financial stability of the national chains that frequently occupy single-tenant, net-lease sites is one of the reasons for the sector’s appeal, as is the fact that the leases often include corporate guarantees, Bull said.

 For many investors, in fact, such a guarantee is a requirement. “As a rule, I exclude everything that’s not corporate guaranteed, out of the box,” said Roman DeVille, CEO of Tempo Properties and of Capital South Financial Services.

Properties with non-credit-grade tenants or shorter-term leases aren’t as highly sought after, but nevertheless there is a segment of buyers who seek the higher returns that accompany these slightly riskier investments, the panel noted.

 Even a single-tenant, net-lease property with a credit-grade tenant can have some unexpected landlord costs, according to Karen Hutton, CEO of The Hutton Co. development firm, who urged investors to carefully read the lease terms. “The devil’s in the details,” Hutton said.

 The entire episode on the single-tenant net-lease market is available for download at www.CREshow.com. The next “Commercial Real Estate Show” will be available March 7 and will examine investing in distressed and value-add properties.

 Contact:

Stephen Ursery

The Wilbert Group

E-mail: sursery@thewilbertgroup.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

Bridgeport Investments Secures $45 Million in Equity Financing to Fund Industrial Acquisitions and Retail Development

  

Randy Bramel

 ORANGE COUNTY, CA (March 4, 2013) – Bridgeport Investments, an Orange County-based real estate investment banking and advisory firm, has successfully secured two equity financing commitments totaling $45 million on behalf of its clients.

Bridgeport secured $35 million in equity financing on behalf of CapRock Partners to fund several future acquisitions of industrial properties in California, and $10 million in equity financing on behalf of Peninsula Retail Partners to fund various retail development opportunities, according to Randy Bramel, Founding Principal of Bridgeport Investments.

“Equity commitments of this size and nature are not that common in the current Orange County market,” says Bramel. “It takes a strong real estate operator with a focused niche strategy to attract such capital.”

            According to Bramel, Bridgeport was able to identify and secure these new commitments in part due to the ongoing relationship the firm builds with its clients.

“Because our firm functions more like a venture capital partner with our clients, we are able to utilize our industry expertise not only to raise capital, but also to

“For that reason, we have a deeper understanding of our clients’ capabilities, goals and strategy, and are in a position to work with them to identify the ideal time to move forward in securing financing of this nature.”

  

 For a complete copy of the company’s news release, please contact:

Jenn Quader / Judith Brower

Brower, Miller & Cole

(949) 955-7940

JQuader@browermillercole.com

 www.bridgeportinv.com.

NAI Realvest Professionals Take Home Four Major Awards at Annual NAIOP Best of the Best Awards Gala

Thomas Hankins

MAITLAND, FL --- NAI Realvest in Maitland scored four major awards in the recent Best of the Best Awards Gala by the Central Florida chapter of the National Association of Industrial and Office Properties (NAIOP), the leading organization for developers, owners and related professionals in commercial real estate.

Chris Butera

In the Land Broker of the Year category, NAI Realvest Principal Thomas Hankins was awarded Second Place for closing on two land transactions that totaled 72.35 acres valued at more than $6,600,000 million.

Kevin O'Connor

NAI Realvest Associate Chris Butera was awarded Third Place in the same category. Butera closed on five land transactions that totaled 184.21 acres valued at more than $2,429,500 million.

In the Retail Broker of the Year category, NAI Realvest Principals Kevin O’Connor and Matt Cichocki, were awarded Third Place for their transactions, which totaled 30,492 square feet of retail space valued at more than $16,524,211 million.

Matt Cichocki

NAI Realvest Managing Director Robin Webb said commercial real estate is rebounding across the region and NAI Realvest is playing a big role in the comeback.

Robin Webb

“The economic downturn has particularly affected the commercial real estate industry but many sectors are bouncing back strong. We expect to see big increases in the volume of transactions and dollar values through the remainder of this year and well into next year,” Webb said.

Contacts:

Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 407-875-9989 Rwebb@realvest.com  

Patrick Mahoney, President, NAI Realvest 407-875-9989 Pmahoney@realvest.com

Larry Vershel, Larry Vershel Communications Inc. 407 644 4142 Lvershelco@aol.com

Cuhaci & Peterson Complete Design Work on Two Restaurants at Atlanta International Airport

ORLANDO, FL --- Cuhaci & Peterson Architects, Engineers, Planners based in Orlando’s Baldwin Park, recently completed design work on two restaurants at Atlanta International Airport. 

 Lonnie Peterson, chairman at Cuhaci & Peterson said the restaurants – Ruby Tuesday’s and Longhorn Steakhouse – are 3,000 square feet each.

 The developer of each restaurant is HMS Host. 

 Contacts:

Lonnie Peterson, Chairman Cuhaci & Peterson Architects, LLC, 407-661-9100;  

Jed Downs, President Cuhaci & Peterson Architects, LLC, 407-661-9100;  

Larry Vershel or Beth Payan, Larry Vershel Communications, Inc. 407-644-4142, lvershelco@aol.com   

Cuhaci & Peterson Completes Design of new Publix Supermarket at Lake Nona, FL store open now

ORLANDO, Fla. --- Cuhaci & Peterson Architects, Engineers, Planners based in Orlando’s Baldwin Park designed the new Publix supermarket in the Lake Nona Plaza off Narcoossee Road in Southeast Orlando.   The store recently opened for businesss.

 Lonnie Peterson, chairman of Cuhaci and Peterson, said the supermarket is 54,000 square feet, and there is another 23,000 square feet ready for build out that will eventually accommodate retail shops at the center. 

 Lake Nona Property Holding is the developer of the project.

Contacts:

Lonnie Peterson, Chairman Cuhaci & Peterson 407-661-9100; Lonne@c-p.com

Jed Downs, President Cuhaci & Peterson Architects, 407-661-9100;

Jed@c-p.com   

Larry Vershel or Beth Payan, Larry Vershel Communications, Inc. 407-644-4142, lvershelco@aol.com   

$2.7 million multifamily sale in Tallahassee, FL Arranged by Marcus & Millichap

Hidden Villas, Tallahassee, FL

TALLAHASSEE, FL, March 4, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Hidden Villas, a 96-unit multifamily community located in Tallahassee, Florida, according to Richard D. Matricaria, Regional Manager of the firm’s Tampa office. The asset commanded a sales price of $2,700,000.

Michael P. Regan

Michael P. Regan and Francesco P. Carriera, both vice president investments in Marcus & Millichap’s Tampa office, represented the Virginia-based seller, a financial institution and the buyer, a private investor from Mississippi. 

Hidden Villas was built in 1972 and is located at 2131 North Meridian Road in Tallahassee, Florida.  The property is situated on approximately 8.85 acres of land and consists of 21 two-story residential buildings. 

Francesco P. Carriera

The unit mix features 37 two-bedroom/one-bath units, 43 two-bedroom/two-bath units and 16 three-bedroom/two-bath units.  Hidden Villas’ amenities include washer/dryer connections in select units, an on-site laundry facility and a pool.

“With the help of our national marketing campaign, we were able to generate 12 offers from buyers in nine cities representing five different states and one European country,” says Carriera.

 “Our exposure created a competitive bidding environment for the property which ensured our seller a probable closing at the highest possible price. The buyer was out of state and it was his first multifamily acquisition in Tallahassee.”

                                                        

 Press Contact:

Richard D. Matricaria

Regional Manager, Tampa

(813) 387-4700

9250 Doral Recapitalized, Undergoing Full Renovation

9250 Doral Building, Miami, FL

 MIAMI, FL – A multimillion dollar renovation is in the works at 9250 Doral as owner Delma Properties prepares to bring the former single tenant office building to the multi-tenant leasing market. 

With the largest single block of available office space in the Doral area, the 187,000 square-foot office building is being repositioned as a multi-tenant office building.

The 9250 Doral building, located at 9250 N.W. 36th Street, comprises 187,000 square feet of space with floor-to-ceiling views and reflective glass exterior. It is the largest block of space available in the Airport West-Doral office market.

Brian Gale

It presents an unprecedented opportunity for all size tenants to occupy space in one of the most exciting and rapidly growing areas of the Miami-Dade office market, said Brian Gale of Taylor & Mathis, the exclusive leasing agent.

 Just a year ago, 9250 Doral’s single tenant occupant, Amadeus North America, moved out and the building became 100% vacant.  But parent company, Delma Properties, in a demonstration of its commitment in the market and the asset, has recapitalized the asset and commenced its repositioning.

 “The collective efforts show our commitment in the asset and in the market,” said Todd Benson, Senior Vice President, Florida Region at Delma Properties.

 “We know the great, long-term value of 9250 Doral, which is why we’re willing to make the investment in this repositioning. Since its opening in the 1980s the building has always been occupied by a single tenant.  Getting the property back on the radar of brokers and tenants is imperative as we convert the building to multi-tenant use.”

For a complete copy of the company’s news release, please contact:

Todd Benson, Delma

tbenson@delma.net

(786)533-1620

www.delmaproperties.com

  

Brian Gale, Taylor & Mathis

bgale@taylormathis.com

(305)476-8880

www.TaylorMathis.com.

Trepp February CMBS Delinquency Report: US CMBS Delinquency Rate Falls to Lowest Level in a Year

  

NEW YORK, NY, MAR. 4, 2013 -- The Trepp CMBS Delinquency Rate dropped sharply once again, reaching its lowest level in a year. 

The delinquency rate for US commercial real estate loans in CMBS fell 15 basis points to 9.42% in February. Overall, the Trepp CMBS Delinquency Rate has fallen 92 basis points since hitting a peak of 10.34% at the end of July 2012.

There were $2.7 billion in newly delinquent loans in February, which put about 48 basis points of upward pressure on the delinquency rate.

This was slightly lower than January’s $2.8 billion in new delinquencies and is the third consecutive month this number has declined.

Loan resolutions dropped more noticeably, from $1.2 billion in January to just under a billion dollars in February.

The removal of these loans from the delinquent category accounted for 18 basis points of downward pressure on the delinquency rate. Finally, loans that cured put an additional 40 basis points of downward pressure on the rate.

For a complete copy of the company’s news release, please contact:

Eric R. Gerard

Senior Vice President

Great Ink Communications

27 Union Square West, Suite 205

New York, NY 10001

(212) 741-2977

Growing Multi Housing Advisors Makes Key New Hires

Watson H. Bryant

ATLANTA, GA (March 4, 2013) — Multi Housing Advisors (MHA) has made a series of important hires in its Atlanta; Birmingham, Ala.; and Charlotte, N.C., offices.

 For its expanded Charlotte office, the firm has hired Watson H. Bryant, Charles E. Broyles and Claudia M. Pascual.

  Bryant, formerly an associate vice president with Cassidy Turley in Atlanta, is an associate in the office. Broyles, previously with Lindsey Management, is an investment analyst, and Claudia Pascual, formerly a property manager with GMC Properties in metro Charlotte, is an operations associate.

Charles E. Broyles

Marc Robinson, co-founder and co-managing partner of MHA, recently moved from the firm’s Atlanta headquarters to Charlotte to run that office with Jordan McCarley, who established MHA’s presence in North Carolina in 2007.

 MHA also has hired Matt Wittekiend as the firm’s chief administrative officer. Wittekiend, who is based in the Atlanta office, was previously with Newmark Grubb Knight Frank for more than 17 years, where he served as a vice president and senior business operations manager.

Marc Robinson

 Andrew Gross, formerly with W.H. Gross Construction in Kingsland, Ga., has joined MHA’s Atlanta office as an investment analyst.

Brian Savage also has joined MHA’s Birmingham office as an associate. He was previously a businessdevelopment manager for Doster Construction Company.

Jordan McCarley

 The hires come during a period of great activity for MHA. The firm recently changed its name from Southeast Apartment Partners to reflect its growth, and the company intends to open additional offices in the South and hopes to make specific expansion announcements later this year.

Furthermore, early last year, MHA hired Brett Kingman, formerly with Colliers International, to be a director in its Atlanta office.

Joshua Goldfarb

  “After 10 years of operations and more than 400 sales totaling nearly $2 billion and more than 64,000 units, we are excited about our growth and the road ahead for our firm,” Robinson. 

“The new hires are critical components to the success and expansion we plan on achieving in the months and years ahead, and we continue to look for experienced brokers to join our growing organization and participate in our rapid growth.”

Brian Savage

 “The multifamily market has been attractive in recent years and is set for another period of very strong performance,” added Joshua Goldfarb, co-founder and co-managing partner of MHA. “The considerable talent and experience of these recent additions to our firm ensure that we will be able to take full advantage of whatever the markets may bring.”

In addition to its Atlanta and Charlotte locations, MHA, which has listings ranging from bank-owned assets to Class-A properties, has an office in Birmingham, Ala., and is aggressively doing deals throughout the Southeast.

For a complete copy of the company’s news release, please contact:

Stephen Ursery

The Wilbert Group

E-mail: sursery@thewilbertgroup.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

www.usmha.com.

2 New Condo Towers With 450 Units Proposed For Greater Downtown Miami

  

One Thousand Museum Condos construction site
Downtwon Miami, FL

MIAMI, FL -- Developers are proposing a pair of new condo towers - the 63-story One Thousand Museum project and a 45-story condo tower within the previously planned Brickell CityCenter mixed-use complex - for Greater Downtown Miami at a time when South Florida real estate shows signs of recovering from a crash that began in 2007, according to a new report from CondoVultures.com.

With the newly proposed condo towers, at least 21 new condo towers with nearly 7,350 units have been announced for the Greater Downtown Miami market that stretches from the Julia Tuttle Causeway south to the Rickenbacker Causeway, and Biscayne Bay east to Interstate 95 as March 1, 2013, according to the Cranespotters.com Preconstruction Condo Projects Database™ compiled by the licensed Florida brokerage CVR Realty™.

Brickell CityCenter condos rendering
Downtown Miami, FL

Overall in South Florida, developers are proposing more than 15,560 condo units for the tricounty South Florida region of Miami-Dade, Broward, and Palm Beach counties as of March 1, 2013, according to CraneSpotters.com.

"Greater Downtown Miami is emerging as the market of choice for nearly half of the preconstruction condo units currently proposed in coastal South Florida," said Peter Zalewski, a principal with the Greater Downtown Miami-based real estate consultancy Condo Vultures® LLC.

"The number of new residents and companies moving into - or expanding in - Greater Downtown Miami is creating an attractive climate for developers. Added to that, less than five percent of the boom-era developer condo inventory in Greater Downtown Miami remains unsold as of 2012 due in large part to cash investors from overseas.

For a complete copy of the company’s news release, please contact:

Condo Vultures® LLC

 225 Midtown Building

 225 NE 34th St., Suite 209B,

Downtown Miami, Florida, 33137.

800-750-0517.